Big data represents business intelligence evolution
Big data analytics is a new and exciting technological area, but it is not without precedent. According to CIOL contributor Rajesh Janey, many of the current uses of unstructured data are based on processes undertaken with traditional sources in the past, optimized as the tools on-hand have grown more powerful.
Janey explained that predictive analytics is one of the capabilities that has developed between classic BI and the current, big data enabled state of the market. He stressed that firms should examine their current business intelligence capability and determine if a big data program is what they need moving forward.
As an example of big data supplanting classic BI, Janey cited processes in the retail industry. He stated that retail stores are deeply interested in market research and data on competitor performance and explained that processing these figures in real time, a long-held retail goal, is now possible with big data applications.
TechTarget reported a specific example of a retailer transforming its operations through big data. One of the U.K.'s leading blinds sellers developed a model based on uniting its disparate data silos and moving its information collection and conversion into real time.